The danger of the cyptocurrencies

[artows21]

Need created money cryptocurrencies is the problem. Such as fiat money created to satisfy human needs.
 Before money, transactions between people and between countries  were made with the exchange of products so as to meet the needs of all and to have self-sufficiency in goods.

So, financial  needs the centralized monetary system could not cover made humans to think that they need another way to trade with each other. And like other currency systems has pros and cons such us cryptocurrency has their own strength and weakness.

[SoulBargain]

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

I think it is early to say that kind of statement that bitcoin cannot be embraced or accepted fully by the different nations in the world because it is always depend on how they look at bitcoin and what are their perspective in bitcoin. If bitcoin will continue to be good in shape and continue improving then there is no doubt that other nations will accept bitcoin fully.

yes currently so nations may not be interested in bitcoin, but i think wen all the other people will start using bitcoin then they will also start using bitcoin. so i think bitcoin is the need of every society and every country.

What I'm implying is that Bitcoin can't be a national currency but can be a part of it. Bitcoin on the other hand can be the flobal currency because a lot of people from different countries are using it.

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Exactly.Therefore, Bitcoin will be used as a world currency, not a national currency and when it becomes the world currency, more people will satisfy about it and it will help to deliver a much large amount of money oversea within the second

[ASHLIUSZ]

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

who told bitcoin dont have taxes, the country which is accepting bitcoin have imposed tax on its uses and you have to show all details about trading and uses of bitcoins. If you are now showing details then you are doing illegal activity. And showing bitcoin in tax is good for bitcoin users and for bitcoin itself like this more shop owners will use bitcoin as it is getting legal status

Bitcoin have taxes. Only very few show transactions and profiting through bitcoin and pay taxes. In the past only a countable number of around 1000 people have added tax based on their earning from bitcoin. On this basis US tax dept have claimed the user information documented on coinbase. Now they are in regulatory acts claim. So bitcoin have tax but not functioning in a perfect manner.

[danherbias07]

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

Though it will not disappear they can do something in their power to make it forgotten. Simple news about bitcoin being a currency used in different terrorist transaction can make it work. If that spread all over the world how can we add up more investors into supporting bitcoin. That problem can occur and if it lasts long. The bitcoin will lose its value over time.

[xSkylarx]

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and that they foresee the worst scenarios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Maybe today it is true that bitcoin is not yet acceptable for the Government that is why they have rejected the bitcoin ETF, but who knows, maybe someday in the near future, bitcoin will be embrace by all the people around the world and of course the Government will embrace it too. We just have to give them some time for this one, to think whether they are going to accept bitcoin or not in the near future. But right now, I know that they are always keeping an eye on it, thinking if its really worth to give it a try for bitcoin.

And if this things happen for real, then we don't have to worry anymore about the bitcoins price going down, because I know that it will continue rising day by day, if this ETF will be approved by the SEC.

[TastyChillySauce00]

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

who told bitcoin dont have taxes, the country which is accepting bitcoin have imposed tax on its uses and you have to show all details about trading and uses of bitcoins. If you are now showing details then you are doing illegal activity. And showing bitcoin in tax is good for bitcoin users and for bitcoin itself like this more shop owners will use bitcoin as it is getting legal status

But, the majority of bitcoin users aren't publishing their bitcoin to the government that easily that even many of them are using bitcoin in purpose of avoiding the taxes.
Also, there's still many countries that still don't acknowledge bitcoin and it makes the taxation struggling to reach its conclusion, just imagine if you're going to pay taxes but the one who's in charge of calculating and receiving your taxes don't know shit about bitcoin.

[sportis]

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

I have a different opinion about and if banks consider that bitcoin is a serious rival and possibly a threat to their future existence. A typical case of the well known in Europe bank is the BNP Paribas which admitted that bitcoin could destroy the banks and their work as we know they do it now. Moreover, we could see some movement of the PBOC which has already did its first trial in digital currency trying to attract the interest of Chinese customers. All of these are signs that banks are feel at risk considering the popularity of bitcoin.

[azguard]

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

That is opinion on witch is hard to pick on this topic, cuz it little sensitive subject. Think that some government are going this in secret to create something similar to blockchain or something that will be unique for certain country (example for this is Sweden they are developing there own crypto that can be used there). Cuz of this there is speculation that some already have something similar and they are testing it for further mass usage. Who will gain here its hard to tell but all want to control bitcoin in global.

[Schuyler]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

[Kvazimoda]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

[CryptoStake]

The danger of the cyptocurrencies are because it can make you rich and everyone can get without the need for such rules

[bajing]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

[newfidegm]

Digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. We aren't pointing this out to warn people away from making cryptocurrency investments, but to make it clear the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly. It's best to take a longer “big picture” view of your investment, as opposed to letting a momentary drop in value send you into a panic.

Digital currency coins are encrypted to keep them secure—but there's a potential drawback there. This coding identifies the currency itself, but not its owner. Whoever holds the coin's encryption code becomes its owner, and there's nothing in the coin's coding that says it belongs specifically to you—or to anyone else. This built-in anonymity feature means when a coin is stolen, it's gone—and you have little to no recourse in getting it back.

Finally, the saddest one, cryptocurrency can be worthless, investor could drop off; the overall effects of world economies could become so severe as to affect cryptocurrency value—even with safeguards in place, extreme factors could have an effect.

[Antonio G.]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

I think that government will find the way how to control cryptocurrency transactions and get taxes in the future. And I am sure that when they find such way, the government will be the first friend of the cryptocurrency

[Gotottack]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

I think that government will find the way how to control cryptocurrency transactions and get taxes in the future. And I am sure that when they find such way, the government will be the first friend of the cryptocurrency

They can always impose taxes on exchanges in the local scene or taxes on the use of it. That way every time people exchange their bitcoins into fiat or vice versa, the goverments will have a cut in that trade. It's not that hard to control it even if bitcoin has all these features. Like money, you can always have deals that you don't declare. Its just the same with bitcoins. However, if you don't declare your income properly and you are living a life that is not proportionate to your income then they can investigate you.

[Jasad]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

tax isn't the first reason why government think that bitcoin too dangerous ,
they morelikely think that bitcoin is vulnerable , the system isn't established yet ,
the potential to become disappear still high and make a lot of people feel insecure about it ,
coinbase and US government can take a tax from your account by the way .

[deisik]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

I think that government will find the way how to control cryptocurrency transactions and get taxes in the future. And I am sure that when they find such way, the government will be the first friend of the cryptocurrency

They can always impose taxes on exchanges in the local scene or taxes on the use of it. That way every time people exchange their bitcoins into fiat or vice versa, the goverments will have a cut in that trade. It's not that hard to control it even if bitcoin has all these features. Like money, you can always have deals that you don't declare. Its just the same with bitcoins. However, if you don't declare your income properly and you are living a life that is not proportionate to your income then they can investigate you

I don't think that it is that easy as you think

Bitcoin exchanges are mostly online businesses nowadays (if fact, they were always like that) and most that a local government can do to them is to block access to their site. This is what Russian authorities did in respect to Btc-e and Exmo exchanges (most popular Bitcoin exchanges between Russian Bitcoin users). The exchanges just registered another name for their domain (and most likely not a single one, for future use) and thus all efforts to block these sites failed miserably. It is really hard to fight with something which exists only in cyberspace

[MoneyIsDebt]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that  maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as s? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if  price rises to 1.000.000$ and gold and USD become literally worthless? That's when  will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think  the CIA is behind this project, no one knows. But before they remove the fiat money, the government  and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

I think that government will find the way how to control cryptocurrency transactions and get taxes in the future. And I am sure that when they find such way, the government will be the first friend of the cryptocurrency

yeah i think government will never banned it or kills it. i think both the organisers and creator of bitcoin and the government both makes a way for tax evaluation and to overcome money laundring. i think crytocurrency is very healthy for the economy of any country and no country will decide to bann it permanently.

[abonarea]

When this debate started then Bitcoin was still good but alternative coins were seeming directionless and was atmosphere in which you could be worried about the fate of cryptocurrencies. Someone analyzing based on recent money which was invested in different altcoins can say cryprocurrencies and good and real thing to deal with.

[DarkIT]

I guess the biggest problem posed cryptocurrencies just had a major impact on the government, because it does not create a government benefit, only the illegal transactions that should be stopped. but, for a businessman, I think most of the most cyptocurrencies provides a great advantage.